Gazprom’s Headquarters hosted today a meeting of EuRoPol GAZ’s Supervisory Council (SC), headed by Alexander Ananenkov, the SC Chairman and Deputy Chairman of Gazprom’s Management Committee.

The meeting was also attended by the SC Members: Konstantin Chuychenko, Gazprom’s Management Committee Member and Head of Gazprom’s Legal Department as well as Stanislav Tsygankov, Head of Gazprom’s Foreign Relations Department.

The SC Members paid special attention to the issue of completing the construction of the Polish section of the Yamal-Europe gas pipeline, taking into account the Polish compressor stations commissioning timetable adopted earlier. The SC advised EuRoPol GAZ’s Management Board to launch and finalize the construction of the last Zambrow compressor station in the predetermined period, namely from 1 July 2004 to the 4th quarter of 2005.

In addition, the SC recommended EuRoPol GAZ’s Management Board to step up measures aimed at promoting the corporate economic interests while fulfilling contractual commitments with counteragents.

EuRoPol GAZ’s Management Board reported on the implementation of the Project on EuRoPol GAZ’s administrative building and dispatch center construction in Warsaw. The SC commissioned EuRoPol GAZ’s Management Board to provide more detailed information on this Project at the next meeting scheduled for 16 June 2004.

Reference:

EuRoPol GAZ Transit Gas Pipeline System was incorporated in September 1993, within the Inter-Governmental Agreement on the construction of a gas pipeline system for Russian gas transit via and Russian gas deliveries to Poland, dated 25 August 1993. EuRoPol GAZ’s major businesses are designing, constructing and operating the Polish section of the Yamal-Europe gas pipeline.

EuRoPol GAZ owns 684 km of the Yamal-Europe gas pipeline in Poland and the Kondratki and Wloclawek compressor stations making the annual gas pipeline throughput some 22 bcm.

EuRoPol GAZ’s major shareholders are Gazprom and the Polish Oil and Gas Company (PGNiG).

Poland annually consumes about 12 bcm of gas, including some 30% produced domestically. In 2003, Poland imported some 7.3 bcm of Russian gas, including 2.9 bcm received through the Yamal-Europe gas pipeline.

At present, Poland and Germany daily receive some 8.6 and 56 million cubic meters, respectively, via the Yamal-Europe gas pipeline.

DIVISION OF RELATIONS WITH MASS MEDIA